Ad Here  
Housing Innovation Challenge, 2015 TVS Logistics – another acquisition to sharpen the business model Downsizing spree... Striking cords for 25 years… Focus on self-certification and third party inspection Veritas Finance- financing the unfinanced When Centre visits the state Automotive Vision Plan II... SumInfra- corridor based development... Purdue and IIT-M sign the dotted line IFCI to raise NCDs upto Rs 2000 crore Well-refined – RIL’s refinery margins zoom Research needs more funding Airlines wage price war CUB: towards card-less withdrawal Adding Zest to Scooty STFC raises money Chennai to get a roundabout Metro Chola MS launches motor app TOP 10 CEO Compensation TII’s single largest investment at Thiruthani Four daughters and a proud father Bridging the skill deficit in pharma industry TCS’ revenues cross Rs 100,000 crore Schwing Stetter India joins hands with US-based Gomaco Big-ticket investments march towards Punjab ALL to launch electric busses Pharma market dozes Auto test tracks launched at GARC Oragadam campus Innovation that helped Chennai port World labour laws at a glance Nigeria comes nearer Changing dynamics in human resource management More gensets and diesel engines from TAFE Brand leaders come forward... Steel loses its sheen Backpack laboratory Economic issues take a back seat at G20 summit TII-challenging year with flat growth Three more leather clusters… OBO Bettermann for better lightning protection Carrefour’s quick exit Placing the right shoe forward... Inclusive and forward moving... Chennai will soon get its World Trade Centre People Flow Day- Safety Economic, business and social sustainability Creating Tamil Nadu Banana brand Curbing steel imports will hurt small business... A global plastic event in India Sun Edison launches solar pumps WABCO’s second Chennai plant Tata Steel commence operations at Kalinganagar Hyundai excites again Dynamic e-commerce scenario Indigo stays leader with 40 per cent share AirAsia India infuses funds to fight out competition BRICS development bank Climate change may change the way businesses work... Smart controls for cooling large multi-zone spaces ... ALL-two launches in a row TiE applauds innovative entrepreneurs Strategy war escalates between Hero and Honda Industry-well poised to invest on expansion Techies trip to India Business Breif Holiday Inn opens in OMR Chennai Realising double digit growth in Tamil Nadu ISRO's 100th mission European crisis is a global crisis! On the ‘milky’ way Need to focus on ease of doing business... LVB gears to become a financial supermarket Towards peace of mind ECGC expands operations Murugappa- a year of consolidation Investor friendly Japan Gem of social service... Connecting the unconnected TN budget pragmatic and moderate on fiscal deficit - Indian Bank – global businesses crosses Rs 3 lakh crore... Flexible labour laws… Ridley marathon to India Is Indian telecom industry heading for a monopoly? Apple maps – finding its way Reality bytes Celebration time at MS Chola Time to fast-pace the logistics sector Illicit markets a concern to growing economy An American alliance in the chemical industry? Chola MS net crosses 100 crores Hero Motocorp - smooth ride Blue Star plans a new plant in south Realty sector takes a break... Secured NCDs from Shriram City ALL – truck industry is recovering from degrowth Waste, a gold mine An aerospace-defence cluster in Tamil Nadu… Digital retail transactions stabilise at higher level… Scoot offers just Rs.13,500 to ANZ... Business Briefs Celebrating 180 years of relevance Make way for the new and dynamic railways Durga - India’s largest blast furnace; now operational Nothing to hide... Rating of states to be released soon Applauding enterprise... Chennai Port is at last decongested! The new look- 4s Verna
Reality bytes

There were times, not long ago, when prices of land and apartments went sky rocketing. Thanks to the Chennai floods and a tight liquidity situation, prices have dropped and settled down to quite realistic rates. Today, Chennai real estate has become a buyer’s market.

The real estate industry has an inventory between 45,000 and 60,000 units in the city and its suburbs. That is, almost no sales has been made in a year and a half. Understanding this trend, several builders are either heavily investing in marketing or giving away built spaces at rates that may come.

VGN builders had offered apartments in Guindy, the heart of Chennai at about Rs 6500 per sq ft against the price of Rs 10,000-Rs 13,000 per sq ft in the area. To bring in liquidity, developers are giving away some of their land parcels as plots. Buyers in the city have preferred plots. The multi-storeyed trend caught quite recently. Hiranandani, TVH, Olympia and Akshaya, a few of the reputed builders, have charted forth this path. Giving away as plots relieves the builder of constructing an apartment and encountering delays and price fluctuations.

Big ticket builders have moved to Chennai.  A slew of buildings are coming up on the peripheries of Chennai.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236